When is Electrameccanica Vehicles Corp. (SOLO) going to be good investment? – Marketing Sentinel

When is Electrameccanica Vehicles Corp. (SOLO) going to be good investment?

Electrameccanica Vehicles Corp. (NASDAQ:SOLO) has a beta value of 2.67 and has seen 2,458,339 shares traded in the last trading session. The company, currently valued at $468.57 Million, closed the last trade at $4.15 per share which meant it lost -$0.04 on the day or -0.95% during that session. The SOLO stock price is -227.71% off its 52-week high price of $13.6 and 78.31% above the 52-week low of $0.9. If we look at the company’s 10-day average daily trading volume, we find that it stood at 6.01 Million shares traded. The 3-month trading volume is 14.28 Million shares.

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The consensus among analysts is that Electrameccanica Vehicles Corp. (SOLO) is a Buy stock at the moment, with a recommendation rating of 0. None of the analysts rate the stock as a Sell, while none rate it as Overweight. None out of 4 have rated it as a Hold, with 4 advising it as a Buy. None have rated the stock as Underweight.

Electrameccanica Vehicles Corp. (NASDAQ:SOLO) trade information

Despite being -0.95% in the red in last session, the stock has traded in the green over the last five days, with the highest price hit on Wednesday, Apr 28 when the SOLO stock price touched $4.47-7 or saw a rise of 7.16%. Year-to-date, Electrameccanica Vehicles Corp. shares have moved -32.96%, while the 5-day performance has seen it change -3.94%. Over the past 30 days, the shares of Electrameccanica Vehicles Corp. (NASDAQ:SOLO) have changed -11.13%. Short interest in the company has seen 15.34 Million shares shorted with days to cover at 1.07.

Wall Street analysts have a consensus price target for the stock at $11.22, which means that the shares’ value could jump 170.36% from current levels. The projected low price target is $8.79 while the price target rests at a high of $15.35. In that case, then, we find that the current price level is +269.88% off the targeted high while a plunge would see the stock lose 111.81% from current levels.

Electrameccanica Vehicles Corp. (SOLO) estimates and forecasts

Earnings growth for 2021 is a modest -26.5%.

Electrameccanica Vehicles Corp. (NASDAQ:SOLO)’s Major holders

Insiders own 15.16% of the company shares, while shares held by institutions stand at 9.99% with a share float percentage of 11.78%. Investors are also buoyed by the number of investors in a company, with Electrameccanica Vehicles Corp. having a total of 68 institutions that hold shares in the company. The top two institutional holders are Invesco Ltd. with over 5.92 Million shares worth more than $36.62 Million. As of December 30, 2020, Invesco Ltd. held 18.28% of shares outstanding.

The other major institutional holder is Susquehanna International Group, LLP, with the holding of over 1.74 Million shares as of December 30, 2020. The firm’s total holdings are worth over $10.75 Million and represent 5.37% of shares outstanding.

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Also the top two Mutual Funds that are holding company’s shares are Invesco ETF Tr-Invesco Wilderhill Clean Energy ETF and KraneShares Electric Vehicles and Future Mobility Index ETF. As of March 30, 2021, the former fund manager holds about 21.75% shares in the company for having 7039655 shares of worth $33.09 Million while later fund manager owns 145.94 Thousand shares of worth $903.34 Thousand as of December 30, 2020, which makes it owner of about 0.45% of company’s outstanding stock.

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